CORPORATIONS: K-F Payoff

When stockholders of Kaiser-Frazer
Corp. sued company officials for $50 million two years ago, Henry
Kaiser protested that it was a scheme to put him out of business. The
stockholders charged that they suffered financially by "manipulation"
of assets among various Kaiser companies. Though Henry denied any
wrongdoing, he offered to pay $1,379,503 into K-F for machinery bought
by K-F, but used by other Kaiser companies. Many stockholders called
the sum inadequate.

Last week in Detroit, Federal District Judge Frank A. Picard ordered the
stockholders to accept the offer, and accused those who held out for a
larger sum of...